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Announcement

IronPlanet Reports Record-breaking Auction
Gross Auction Sales of January 31 Auction Total $19 Million

Pleasanton, CA — February 6, 2008 — IronPlanet™ (www.ironplanet.com), the world's leading online auction company for used construction and agricultural equipment, reported its largest auction ever, recording $19 million in gross auction sales in its January 31 auction. The auction total was a 38 percent increase over the company's previous record.

“I am very excited about IronPlanet's start to 2008 and the strong performance of our January 31 auction,” said Gregory J. Owens, Chairman and CEO of IronPlanet. “Our customers were also very pleased by the price performance of the auction and were able to enjoy the fast cycle time to cash we provide through our frequent auctions,” said Owens.

IronPlanet's broad global reach continued to play a significant role in driving auction performance, with a record 14,723 people visiting from auction preview through auction day. With a substantial equipment offering that drew a record number of potential bidders, the January 31 auction generated more than 12,000 bids.

“IronPlanet is clearly gaining significant traction in the market,” said Tommy Cross, President of Cross Pipeline. “The number of global buyers that IronPlanet attracted to the auction resulted in Cross Pipeline exceeding our price targets. The power of IronPlanet's online auctions was clearly demonstrated, with an average of 37 bids per item on our equipment and 25 percent of our equipment being shipped to international buyers,” said Cross.

IronPlanet continued to drive higher price realizations for sellers, generating returns of at least 107 percent of expected prices in five product categories. Already its third auction of the year, IronPlanet has increased the frequency of its auctions in order to offer customers greater flexibility and a faster time to market with their used heavy equipment. IronPlanet is on pace to complete 11 auctions by the end of March, including two auctions in Australia.

IronPlanet is the world's leading online auction company for used construction and agricultural equipment. Our sellers achieve more profitable sales through low transaction costs and better price realizations through a global audience of buyers. Our guaranteed inspection reports and exclusive IronClad Assurance enable buyers to bid with a high degree of confidence. IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com.